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Mongolian To Invest Development Coal Mine Resources, Government to Hire Investment Bank
Reuters reported that Mongolia’s government will soon hire an investment bank to sell part of a massive coal mine valued at around USD 2 billion in a historic deal that could bring a windfall to the sleepy country of windswept grasslands.
Metals – Copper stays at high levels; lower stocks, strike threats lend support
Copper prices stayed close to higher levels, supported by tightening stocks and lingering South American strikes and supply threats.
The London Metal Exchange (LME) said inventories fell by 2,425 tonnes, the biggest drop since the start of June, to 107,950 tonnes, in a daily report.
Meanwhile, supply was under threat from Chile where workers at Collahuasi, the [...]
Metals – copper, nickel, wire placed high news on fears of provisioning, weak UPDATE of the dollar
Copper rallied to a fresh eleven-month high, while nickel and lead set new contract peaks, reflecting gains across the commodities complex, and supported by supply fears, dwindling stocks and a weaker US dollar.
The market is benefiting from reduced liquidity due to the closure of the major Asian markets this week to hit fresh peaks, analysts [...]
Metals – Copper still down on concerns China may raise rates to cool economy
Copper continued lower in early afternoon trade, still weighed down by a slump in Asian equities that was triggered by concerns China might raise interest rates to cool its overheating economy.
The metal was off its day lows, however, as traders took the view the equities downturn in Asia will not spill over onto global [...]
etals – Nickel, tin surpass yesterday’s all time highs to set new records
LME nickel for three-month delivery was at 38,150 usd a tonne, after earlier hitting a record high of 38,500 usd. Tin was at 12,400 usd a tonne, off an all time high of 12,500 usd, which it hit earlier today.
Both metals hit record highs yesterday, although nickel has been soaring to new records for the [...]
